San Francisco based HouseCanary, a valuation-focused real estate brokerage, announced it has competed a $65 million growth funding round.
The round for the real-estate tech startup was led by Morpheus Ventures, Alpha Edison and PSP Growth. This funding brings HouseCanary’s total funding to $130 million.
Founded in 2013, HouseCanary supplies customers software and services to reshape the entire real estate marketplace. Financial institutions, investors, lenders, mortgage investors, appraisal management companies, and consumers turn to HouseCanary for industry-leading valuations, forecasts, and transaction-support tools. These clients trust HouseCanary to fuel acquisition, underwriting, portfolio management, and more.
The startup boasts highly accurate residential real estate valuations, with a 2.5% median absolute percentage error for 106 million US residential properties nationwide. By focusing on helping its customers grow and scale their businesses, HouseCanary doubled revenue in both 2018 and 2019, and its pace of growth is accelerating for 2020.
Seven of the top ten buyers of residential real estate loans, seven of the top ten bulge bracket investment banks, and four of the top five single family rental investor owner operators use HouseCanary, according to the startup.